Raízen seeks US$13.5 billion valuation in IPO

The company plans to present a new prospectus to the Brazilian Securities and Exchange Commission later this week.

RIO DE JANEIRO, BRAZIL - The joint venture between Royal Dutch Shell and Cosan, Raízen is seeking a valuation of R$70 (US$13.5) billion in its initial public offering (IPO), said sources with knowledge of the matter.

The valuation could range from R$60 billion to R$80 billion depending on demand, they added. Active in fuel distribution and sugar and ethanol production, Raízen decided to reduce the offer to about R$5 billion from the R$12 billion initially planned, sources said on condition of anonymity.

Raízen did not immediately respond to a request for . . .

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